US Congress Senate Bill 940 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on April 25 2017 - 25% progression, died in committee
Action: 2017-04-25 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

SEAL Act Shrinking Emergency Account Losses Act of 2017 This bill amends the Internal Revenue Code, with respect to loans made from a qualified employer plan, to: (1) extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed, and (2) prohibit qualified employer plans from making loans using credit cards or any other similar arrangement. The bill also requires the Department of the Treasury to modify regulations governing hardship distributions from qualified employer plans to allow participants to make additional contributions to a plan during the six-month period following a hardship distribution.

SEAL Act Shrinking Emergency Account Losses Act of 2017

Sen. Michael Enzi [R-WY]

Sen. Bill Nelson [D-FL]

Date	Chamber	Action
2017-04-25	Senate	Read twice and referred to the Committee on Finance.

HB2030 (Related) 2017-04-06 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/senate-bill/940/all-info
Text	https://www.congress.gov/115/bills/s940/BILLS-115s940is.pdf